Doordash director Tang sells $3.46 million in stock

Director Stanley Tang of DoorDash, Inc. (NASDAQ:DASH) sold 23,125 shares of Class A Common Stock on April 2, 2026, at a price of $150, for a total value of $3,468,750. The sale comes as DoorDash stock currently trades at $155.03, down 45% over the past six months, though InvestingPro analysis suggests the stock remains undervalued at current levels—appearing on the platform’s Most Undervalued list with a Fair Value above the current price.

The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 3, 2025. Following the transactions, Tang directly holds 19,279 shares of Class A Common Stock, some of which are represented by Restricted Stock Units.

On the same day, Tang converted 21,433 shares of Class B Common Stock into Class A Common Stock. Additionally, 21,433 shares were disposed of by The ST Trust, for which Tang serves as trustee.

Tang continues to indirectly hold 3,569,289 shares of Class B Common Stock and directly holds 7,828 shares of Class B Common Stock. Each share of Class B Common Stock is convertible into one share of Class A Common Stock at the holder’s option, without an expiration date. An InvestingPro Tip notes the stock’s recent weakness, though analysts remain optimistic about the company’s $67.97 billion market cap business.

In other recent news, DoorDash announced a new partnership with Foot Locker to provide on-demand delivery services from nearly 1,300 Foot Locker, Kids Foot Locker, and Champs Sports locations across the United States. This collaboration allows consumers to order athletic footwear, apparel, and accessories through the DoorDash app. Additionally, Wolfe Research adjusted its price target for DoorDash to $195 from $265, citing the impact of the company’s fuel price relief effort for delivery drivers and anticipated revenue headwinds in the second quarter.

Meanwhile, Citizens reiterated a Market Outperform rating for DoorDash, maintaining a $250 price target. The firm highlighted DoorDash’s use of artificial intelligence to enhance operational efficiency, such as understanding traffic patterns and improving customer service processes. BofA Securities also reiterated a Buy rating with a $272 price target, emphasizing the significance of DoorDash’s gas price relief program in maintaining driver relationships and supply.

Bank of America analysts noted a broader trend of internet stocks, including DoorDash, experiencing a 23% decline in the first quarter amid concerns over macroeconomic factors like higher gas prices and social media litigation. These developments reflect ongoing adjustments and strategic initiatives by DoorDash in response to current market conditions and competitive pressures.

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